Latest Business News
Trump Nominates Kevin Warsh as Next Fed Chair
President Trump announced Kevin Warsh, former Fed governor (2006-2011), as his nominee for Federal Reserve Chair, replacing Jerome Powell whose term ends in May. Senate confirmation is required. Warsh is a vocal Fed critic with plans to reshape the central bank.
Fed Publishes Large Bank Supervision Manuals
The Federal Reserve released manuals for supervising global systemically important banks via its LISCC committee. This boosts transparency, as previewed by Vice Chair Bowman. It aids banks in understanding oversight processes.
Pfizer CEO Bets $23 Billion on Oncology Post-COVID
Pfizer's CEO outlined a massive $23 billion investment in oncology to combat cancer. This strategic shift follows COVID vaccine success. It aims to 'save the world from cancer' through innovation.
Google DeepMind's David Silver Launches AI Superintelligence Startup
David Silver, key to AlphaGo, left Google DeepMind for Ineffable Intelligence. The startup pursues 'superintelligence' using proven AI techniques. It highlights talent shifts in AI development.
Elon Musk and Jeffrey Epstein Exchanged Emails for Years
New DOJ records reveal years of emails between Elon Musk and Jeffrey Epstein attempting meetings. Musk had previously denied close ties. This raises questions about Tesla CEO's associations.
Trump Sues IRS and Treasury for $10 Billion Over Tax Leak
Trump filed a $10 billion lawsuit against IRS and Treasury alleging harm from a leak showing years without tax payments. The suit claims reputational and financial damage. It stems from unprecedented disclosure.
Exxon and Chevron Pause New Spending in Venezuela
Exxon and Chevron declined additional investments in Venezuela amid Trump's threats. Exxon retains long-term interest; Chevron seeks volume hikes without capex. They adopt a wait-and-see approach.
SEC Drops Case Against Winklevoss Twins' Gemini Crypto Exchange
The SEC dismissed its case against Gemini Trust, founded by Tyler and Cameron Winklevoss. This resolves regulatory pressure on the crypto platform. It follows broader crypto enforcement shifts.
Chainalysis Reports $82 Billion in Crypto Money Laundering
Crypto laundering hit at least $82 billion last year, up sharply from 2020. Chinese-language networks drove much growth. The report underscores rising illicit finance risks.
BlackRock Unveils Profit-Sharing in Private Markets Talent War
The $14 trillion asset manager BlackRock launched profit-sharing for private markets to attract talent. It competes in Wall Street's 'alts' battle. This innovates compensation amid industry rivalry.
Davos 2026 Highlights New Deals and Global Cooperation Shifts
World Economic Forum's Davos meeting featured deals, dialogue, and questions on geopolitics. Key takeaways include reckoning on cooperation amid fragmentation. Leaders addressed economic priorities.
Synchrony CEO Warns Retailers Hurt by Proposed 10% Rate Cap
President's proposed 10% credit card rate cap could devastate retailers reliant on financing. Synchrony CEO noted it comprises up to 40% of some sales. Bankers warn of broad economic fallout.